EUR/CAD – 1H – BUY

The combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline up.

A continuation of the bullish trend up to the next resistance at 1.6168 is considered certain.

Caution: A possible change in the direction of support at is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Next a ‘Northern Doji’ candle chart pattern is detected. The candles show ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.6168 – 1.61823 – 1.61874 – 1.61319 – 1.61066 – 1.61126 —
1.61417 – 1.61494 —
45.984457734294 – 49.500412917849 —
1.61319 – 1768842000 —
1.61680 – 1768788000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom chart pattern – – – – – – – –